KBS Corporate recently advised upon the acquisition of Frank Shaw (Bayonet) Limited, a manufacturer and distributor of nails, hooks and hardware fittings.
Initially formed in the 1880’s, Frank Shaw was acquired by the exiting shareholding family in 1923, and has maintained its status as a family business in the years since. The shareholders approached KBS Corporate with intentions to offer the company for sale in order to facilitate its growth, plan for retirement and concentrate on other businesses.
Located in Redditch, Worcestershire, the company provides fixing products such as panel pins, picture hooks and frame accessories, display hardware, upholstery and carpet tacks, nails and much more, in the well-known ‘Bayonet’, ‘Challenge’ and ‘X’ brands. Over the years, Frank Shaw has developed a strong client base, consisting of DIY wholesalers and retailers, craft stores and builders’ merchants, 90% of whom provide repeat business.
With Frank Shaw displaying future growth potential in the form of new product ranges, in-store POS displays, and new sales and marketing strategies, KBS Corporate identified that the opportunity to acquire the company would attract interest within the market.
The research strategy consisted of a number of tasks: contacting trade buyers and private investors, liaising with our professional network and conducting a cross matching task with our internal database of acquirers. The opportunity attracted significant interest, mainly from UK-based trade buyers, with some interest from private equity investors, private investors and MBI candidates.
Ultimately, a proposed management buy in deal through a private investor offered the best terms for the exiting shareholders of Frank Shaw, allowing the company to thrive under the direction of a new owner and achieve further growth in the sector.
Tom Eatough, Deal Executive at KBS Corporate, advised on the deal.